Superloop (SLC) H1 2026 earnings summary

Executive summary

• Achieved record first half FY2026 results with revenue up 23% to $317.6 million and underlying EBITDA up 46% to $55.8 million, driven by organic customer additions, operational leverage, and digital investments.

• Net profit after tax reached $5.1 million, a $12.9 million improvement year-on-year, reversing a prior loss.

• Added 74,000 new customers, increasing total to over 805,000, and grew nbn market share to 7%.

• Announced acquisition of Lightning Broadband for $165 million, accelerating Smart Communities strategy and expanding FTTP footprint.

• Entered the S&P/ASX 200 index in September 2025, marking a significant milestone.

Financial highlights

• Revenue rose 23.3% year-over-year to $317.6 million, with Consumer up 29%, Wholesale up 28%, and Business up 4%.

• Underlying EBITDA margin improved from 14.8% to 17.6%, with group gross margin at 35.2%.

• Free cash flow more than doubled to $32.2 million, and gross operating cash flow conversion was 96%.

• Net cash position at period end was $3.9 million, with indicative leverage ratio expected at 1.4x post-acquisition.

• Operating expenses as a percentage of revenue declined from 15.4% to 13.4%.

Outlook and guidance

• Upgraded FY26 underlying EBITDA guidance to $112–$120 million, representing 21–30% growth over FY25.

• Capital expenditure guidance unchanged at $32–$35 million, excluding Lightning Broadband.

• Lightning Broadband acquisition expected to complete in Q4 FY26, with no contribution assumed in current FY26 guidance; expected to be EPS accretive in FY27 and generate $11 million EBITDA in FY27 with $5 million annualized synergies within three years.

• On track to deliver Double Down strategy by FY26, focusing on cost leadership, market penetration, and M&A growth.

• First comprehensive Sustainability Report aligned with AASB S2 to be presented with FY26 audited statements.